Cuomo Lays Out Sweeping Plan to Avoid Utility Death Spiral
New York Gov. Andrew Cuomo unveiled plans for an energy modernization initiative that will fundamentally transform the way electricity is distributed and used in New York State, he said. Under the Reforming Energy Vision (REV) initiative, utilities will actively manage and coordinate a wide range of distributed resources or generate electricity from many small energy sources and link them together. The initiative will also improve the retail and wholesale markets and assure the success of energy efficiency and clean energy programs, according to the Governor.
The REV initiative will also focus on finding ways to reduce peak demand, representing the single largest savings opportunity for consumers in New York, said Cuomo.
A State of New York Public Service Commission (PSC) Order dated April 25 says its staff will issue status reports on distributed energy systems and regulatory and ratemaking issues at its July 2014 meeting, but notes “The REV vision will need time to be fully actualized.”
Perhaps Cuomo and the NY PSC are taking Former Energy Secretary Steven Chu’s advice that utilities get into distributed solar themselves to participate in the boom rather than be killed by it.
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